The retail sector continues to suffer under the weight of the Covid-19 throughout 1Q20 and likely continue to the next quarter. MAPI, as one of Indonesian retailer, recorded a low single digit growth on revenue and a sharp decline in the pace of SSSG. For company’s outlook, we lower our top line and bottom line assumption as our initial view of recovering growth for 1H20 is challenged by a persistently weak demand environment.
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